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The Line Broke, But the Monkey Got Choked 1/3/23

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At least, so far this morning, looks like the monkey is getting choked, but let's look again after the first half hour of regular trading in New York in 3 hours from the time I'm writing this. 

Meanwhile, overnight, the Asians and Europeans were optimistic enough to push the ES, 24 hour S&P fugutures to a breakout of the right side of this rather awesome pattern that looks like a huge bottom going back a couple of weeks. But it also might be a consolidation on the way down. Normally, a pattern that looks like this ultimately breaks out topside, but in today's environment, I wouldn't want to presume. We won't know for sure until they actually clear the range one way or the other. 

The starting point for the bulls would be 3892. They gotta get through that first. If they do, the breakout would have a conventional measured move target of around 4010-15. If they don't clear 3892 today, I'll give my bear friends the benefit of the doubt. However, no clear win for them unless and until the get below the trendline now around 3800, approaching 3810 later today. 

zycuo

For moron the markets, see:

I am working on swing trade screens right now for posting before NY opens. I'll have a gold update tomorrow, followed by a new Liquidity Trader Money Trends report focusing on December tax collections and yobs man. 

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Hmmmmm...

Quote

RHOIDERS  -  Jan 23- King Dollar's reign (definitely) coming to an end, bonds bouncing and emerging markets rising again are just some of the trades international money managers are betting on in 2023.

https://www.reuters.com/markets/global-markets-top-trades-pix-2023-01-03/?utm_source=Sailthru&utm_medium=Newsletter&utm_campaign=Daily-Briefing&utm_term=010323

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9 minutes ago, Jorma said:

Did you see the RRP soared to $2.55TN on the 30th.  

Year end window dressing. Does the same thing at the end of every quotter. 

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THE FEDIVERSE VS THE METAVERSE

Who wants or needs to inhabit the metaverse when the FED created a financial fantasy world out of the real world....the Fediverse.

If META chucked the metaverse the stock would probably double.

The current  lack of printing is simply a welcome return to reality.

Printing is belief....fantasy.

The ominus spending bill not good for stocks and bonds....crowding out effect.

 

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3 hours ago, Jimbo said:

THE FEDIVERSE VS THE METAVERSE

Who wants or needs to inhabit the metaverse when the FED created a financial fantasy world out of the real world....the Fediverse.

If META chucked the metaverse the stock would probably double.

The current  lack of printing is simply a welcome return to reality.

Printing is belief....fantasy.

The ominus spending bill not good for stocks and bonds....crowding out effect.

 

 The Frediverse….

image.thumb.jpeg.f5449f8311458debfef60ba58ae5e64d.jpeg

image.jpeg

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